Page 16 - Kazakh Outlook 2025

6.0 Energy & Power
Nuclear energy ambitions and renewables
Kazakhstan Deputy Minister of Foreign Affairs Alibek Kuantyrov has told The Korea Times that the Central Asian country is leaning towards forming an international consortium made up of Russia, South Korea, France and China for the construction of its first NPP.
Kazakhstan recently held a referendum in which 71.12% of those who voted were in favour of the NPP. Estimated construction costs range between $10bn and $12bn.
Kuantyrov highlighted that Kazakhstan, rich in uranium but lacking nuclear power production facilities, is also considering consortium options with countries such as Japan, Canada and the US. It is likely that the chances are slimmer for these three countries in terms of joining the consortium.
The Kazakh government plans to announce the consortium members in 2025. Observers mainly expect Russia to take the lead in the project.
Kazakhstan also plans to equate nuclear power with renewable energy sources (RESs) such as solar and wind, granting it the same benefits already provided to these sectors, The Times of Central Asia reported on October 21, citing Kazakhstan’s Energy Ministry.
The Energy Ministry has introduced a draft bill aimed at encouraging alternative energy development as part of Kazakhstan's transition to a green economy, which includes promoting zero-emission nuclear energy and hydrogen energy. The draft bill, opened for discussion until November 11, addresses the need for legislative incentives to boost nuclear energy, given its potential as an environmentally friendly power source.
The country is looking to follow the EU's 2022 recognition of nuclear power as “green” (despite uranium not being renewable), which allows nuclear projects to receive benefits and subsidies.
Currently, RESs make up only 6.67% of Kazakhstan’s electricity generation. Kazakhstan's renewable energy generation reached 5.6bn kWh in the first 10 months of 2024, marking a 10% y/y increase.
Oil & gas transit
Between January and November, oil transit from Russia to China through KazTransOil's network totalled 9.12mn tonnes, the company revealed in an update detailing its oil export and transit figures for the first 11 months of the year. The volume, while sizable, marked a slight decline of 0.25% against the 9.14mn tonnes transported along the same route and same pipeline during the same period in 2023.
Russia and China are now exploring a new natural gas supply route that would deliver up to 35bn cubic metres annually via Kazakhstan. Since China has now replaced Europe as the main buyer of Russian gas, the issue of gas transit via Kazakhstan will remain high on the agenda in 2025,
16 Kazakhstan Outlook 2025 www.intellinews.com